Index trend and stocks in action July 21, 2017
DSIJ Intelligence-3 / 21 Jul 2017
On the higher side, the zone of 9,928-9,940 will continue to act as a strong resistance zone. If it holds above the level, index may stretch it rally up to levels of 9,980-10,000.
On Thursday, Nifty opened the session on a positive note and started to show weakness and ended the session near day’s low. On the daily chart, Nifty has formed a ‘Dark Cloud Cover’ like candlestick pattern, formation of this pattern at reasonable highs are considered as top reversal pattern. On the higher side, the zone of 9,928-9,940 will continue to act as a strong resistance zone. If it holds above the level, index may stretch it rally up to levels of 9,980-10,000. On the downside, the level of 9,840 will act as an immediate support and next support is placed around levels of 9,780.
Welspun Corp: The company has won an order from a customer in Indian for the supply of 100K MTs pipes for water projects in Inida.
Amrutanjan: The Scheme of Amalgamation of M/s. Amrutanjan Pharmaessense Private Limited (Transferor) with M/s. Amrutanjan Health Care Limited (Transferee)was approved by the National Company Law Tribunal (NCLT).
Gravita India: Gravita started recycling and commercial production of PET flakes at its new recycling plant at Jamaica.
Rallis India: Board approves the scheme of amalgamation with Zero Waste Agro-Organics subject to NCLT approval.
Balaji Telefilms: The Board has approved the issue of 2.52 crore shares to Reliance Industries at a price of Rs 164 per share for a total investment of Rs 413.28 crore on a preferential basis.
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